Term
Primary Sector
What is the primary sector?
Answer
Definition
The sector focused on extracting natural resources from the Earth.
The economy is typically categorised into four primary production stages based on activity type.
Focuses on extracting natural resources directly from the Earth. It is the first stage in production.
Processes raw materials into finished or semi-finished goods, including construction.
The sector provides services rather than goods.
Knowledge-Based Activities: This sector involves knowledge-based activities related to information technology, research and development, data processing, and consultancy.
Features: Focus on intellectual services and high-tech. Critical in modern economies.
For Factories: Economies of scale and better quality control.
For Countries: Increased exports and economic growth based on core competences.
For Factories: Over-reliance on one product and difficulty adapting to market changes.
For Countries: Vulnerability to market changes and lack of economic diversity.
What is the primary sector?
The sector focused on extracting natural resources from the Earth.
Name three activities in the primary sector.
Farming, fishing, mining.
What does the secondary sector do?
It processes raw materials into finished or semi-finished goods.
Give examples of industries in the secondary sector.
Factories, construction companies, car manufacturing.
What type of output does the secondary sector provide?
Consumer goods and capital goods.
What characterizes the tertiary sector?
It provides services rather than goods.
List some services found in the tertiary sector.
Retail, healthcare, education, banking, hospitality.
What is the quaternary sector focused on?
Knowledge-based and high-tech activities like IT, research, and data processing.
Define specialisation.
Focusing on producing a limited range of goods or services to improve efficiency and quality.
Name one advantage of specialisation for individuals.
Becoming skilled faster and improving productivity.
What is a disadvantage of specialisation for factories?
Over-reliance on one product, making adaptation difficult.
How does specialisation benefit countries?
By increasing exports and promoting economic growth through core competencies.